The global labels market is projected to grow at an average CAGR of 4.8% between 2022 and 2032, reaching a value of US$63.7 billion. By the end of 2022, the market is expected to be valued at around US$39.8 billion, compared to its estimated value of US$37.9 billion.
The increasing demand for smart labels is a key driver in various end-use industry verticals, as it addresses the need for authenticity and safety. This demand presents numerous growth opportunities for the labels market throughout the forecast period.
Advancements in technology and its integration into the packaging industry are reshaping the market, creating new prospects for the labeling industry. The growing adoption of RFID technology in label manufacturing is a notable example of this transformation.
RFID technology allows for the scanning of a wide range of data, reducing human errors, lowering labor costs, and enhancing the resilience of labels in adverse conditions. The ability of these technologically advanced labels to establish a direct connection between the package and smartphones expands their target market.
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As technology continues to evolve and find increased utilization in the packaging sector, the labeling industry is experiencing significant changes and benefiting from emerging market opportunities. RFID technology, with its enhanced capabilities, offers advantages over traditional labels by enabling seamless data scanning, reducing errors, and facilitating direct communication with smartphones. These advancements contribute to the growth and expansion of the labels market.
“Growing availability of smart, sustainable, and self-adhesive labels is expected to boost the market growth of labels over the forecast period,” says an FMI analyst.
Key Takeaways:
- Expanding e-commerce and growing digitization to strengthen market prospects.
- The U.S. is expected to account for about 83% of the overall sales in North America.
- The label market in India is predicted to register a robust 8.8% CAGR.
- In 2022, the sensitive labels segment will account for 73% of the market share.
- By end use, food segment will grow at a 3.2% CAGR during the forecast period.
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Competitive Landscape
CCL Industries Inc., Avery Dennison Corporation, Fuji Seal International, Inc., Huhtamäki Oyj, Amcor plc, Coveris Holding S.A., Multi-Color Corporation, Honeywell International Inc., 3M Company, Klöckner Pentaplast Europe GmbH & Co KG, Anchor Printing, Derksen Company, Traco Manufacturing, Inc., and Resource Label Group, LLC among others are some of the major players in the labels market that are profiled in the full version of the report.
Major market players are focusing on product innovation and releases. These businesses are also employing expansion and acquisition strategies to gain a competitive advantage.
Regional Analysis:
According to FMI, the U.S. is anticipated to hold 83% of total sales in North America by the end of the forecast period. According to the U.S. Food and Drug Administration, labeling for food under the Federal Food, Drug, and Cosmetic Act is required as the demand for food hygiene, nutrition, and healthcare has grown rapidly in the country. Boom in the e-commerce sector across the U.S. is mainly being driven by rapid innovation of technology and ongoing digitalization in the packaging & labeling industries.
Changing lifestyles and demographics are leading to the growing consumption of ready-to-eat food and packaged processed food items. Besides, the trend of snacking in place of meals would foster the need for small, single-use pouches, which will further augment the demand for labels in the country. Growing demand for sustainable packaging and labeling solutions is another key factor which is anticipated to facilitate the high demand for eco-friendly labels in the U.S. market.
Labels Market Outlook by Category
By Product Type:
- Pressure Sensitive Labels
- Shrink Labels
- Stretch Labels
- Wet Glue Labels
- Others (In-mold, Pre-gummed, etc.)
By Material Type:
- Plastic
- Polyethylene (PE)
- LDPE
- HDPE
- LLDPE
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Others
- Paper
- Foil
By Printing Technique:
- Flexographic Printing
- Digital Printing
- Gravure Printing
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